The Pitfalls Of Buying A House In A Pandemic
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Many people in their 20s and 30s fear they will never be able to buy their own home, and it has become especially difficult during the pandemic.
Alison Healy, Today FM s Head of Digital, tweeted about her own experience of trying to buy a house:
Trying to buy a house in a pandemic?
Enjoy insane bidding wars between you and 12 other parties (TWELVE) who have never even set foot in the house resulting in offers going in at €70,000 () over asking.
This has honest-to-gaff happened 3 times in the last week pic.twitter.com/rZ15Ogh9Bu
A new affordable housing scheme from the Government will not result in more people owning their own homes, but instead will push up prices and see “a return to failed housing policies of the Celtic Tiger era”.
Short-term measures
But the Minister for Housing said that refusing to use the private sector in housing âwould be fighting with one hand tied behind our backsâ.
Mr OâBrien stressed the need to âuse short-term measures to boost [housing] supply while other supports such as direct State building of affordable homes comes on streamâ.
Home ownership levels had fallen from 82 per cent in 1991 to 67.6 per cent, which is below the EU average, he said, adding that the proposed scheme would bridge the affordability gap in housing and create jobs as the economy recovers from the Covid-19 pandemic.
There was some conditional support for the scheme from a number of Independent TDs. Regional Independent Denis Naughten said the principle of the scheme âhas meritâ and should focus on assisting families in moving to regional towns and areas where there is a significant level of vacant housing.
Mayo SF TD calls on Govt to scrap Shared Equity Loan scheme Published: Wednesday, 03 March 2021 07:55
The Dáil will later debate a Sinn Fein motion calling for the Government s new shared equity plan for housing to be scrapped.
It would see the State cover up to 30 percent of the cost of a new home in exchange for a stake.
The Housing Minister Darragh O Brien says it ll help thousands stuck in an affordability gap, but the opposition think the focus should be on delivering more affordable homes.
Mayo Sinn Fein TD Rose Conway-Walsh insists the FF developer scheme will push up house prices, and is calling on Government to invest instead in real affordable homes to rent and buy.
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